Reassessment reflects need for upgrade

This Colonial in the Flordon subdivision was introduced to the market nearly a year ago with an asking price of $775,000, more than $15,000 under the assessment. The home had great bones but needed significant updating, according to the listing agent. As a convenience to the purchaser, the house was reassessed and the new value ($499,300) was much more in line with the eventual sales price of $500,000.